Togo, Niger and Benin owe Nigeria a total of $17.8 million, equivalent to over ₦25 billion, for electricity supplied under bilateral cross-border agreements, according to the Nigerian Electricity Regulatory Commission (NERC).
The regulator disclosed this in its Third Quarter 2025 report, noting that the debt arose from unpaid invoices issued for electricity supplied to the three neighbouring countries through Nigeria’s national grid.
NERC revealed that international customers were invoiced $18.69 million by the Market Operator for electricity supplied in Q3 2025 but remitted only $7.125 million, leaving an outstanding balance of $11.56 million for the quarter.
In addition to this, the affected countries had legacy debts amounting to $14.7 million, of which $7.84 million was paid, leaving a balance of $6.23 million. The cumulative unpaid amount from previous quarters and Q3 2025 therefore stood at $17.8 million, valued at ₦25.36 billion using an exchange rate of ₦1,425 to the dollar.
The international offtakers were identified as Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique of Benin Republic, and Société Nigérienne d’Électricité of Niger Republic.
According to the commission, the three international bilateral customers recorded a 38.09 per cent remittance performance, meaning more than half of the invoices issued during the quarter remained unpaid.
“The three international bilateral customers being supplied by GenCos in the Nigerian Electricity Supply Industry (NESI) made a payment of $7.12 million against the cumulative invoice of $18.69 million issued by the Market Operator for services rendered in 2025/Q3,” NERC stated.
The report noted that the electricity supplied to the neighbouring countries was generated by grid-connected Nigerian generation companies (GenCos) and delivered through established bilateral power arrangements.
In contrast, domestic bilateral customers showed stronger performance during the same period. NERC said local customers remitted ₦3.19 billion out of the ₦3.64 billion invoiced in Q3 2025, representing a remittance rate of 87.61 per cent.
The commission also disclosed that some bilateral customers made payments for outstanding invoices from earlier quarters. During the review period, the Market Operator received $7.84 million from international customers and ₦1.3 billion from domestic customers to settle previous debts.
Meanwhile, Nigeria’s 11 electricity distribution companies (DisCos) remitted a combined ₦381.29 billion to the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator in Q3 2025, out of a total invoice of ₦400.48 billion. This translated to a 95.21 per cent remittance performance.
NERC stated that all figures were based on reconciled market settlements submitted to the commission as of December 18, 2025, as part of its statutory assessment of the commercial performance of Nigeria’s electricity market.
